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ARTICLE · 31 MARCH 2017

Ontario's First Cap And Trade Auction

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Ontario will hold its first Cap and Trade Program Auction of Greenhouse Gas Allowances tomorrow, March 22, 2017, from 1 – 4 p.m.

CanadaEnergy and Natural Resources
Alexandra Sadvari
Alexandra Sadvari
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Ontario will hold its first Cap and Trade Program Auction of Greenhouse Gas Allowances tomorrow, March 22, 2017, from 1 – 4 p.m.

The Auction Notice is posted on the Ministry of Environment and Climate Change ("MOECC") website. As required, the Notice sets out the important auction details, including auction timing, the number of allowances offered for sale, and Annual Auction Reserve Prices for Québec and California.

Auction Reserve Price

As explained in a previous article, the MOECC calculates the "Reserve Price", or the minimum bid price, for each Ontario auction using the higher of the most recently published California and Québec Annual Auction Reserve Prices. California's most recent Reserve Price was $13.57 (USD) for both current and advance allowances, while Québec's was $13.56 (CAD). Therefore, for this auction, the Ontario Reserve Price will be calculated based on the higher California Reserve Price.

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